Integration of artificial intelligence in banking IT infrastructure: technical and financial aspects
https://doi.org/10.34020/1993-4386-2024-4-15-25
Abstract
The use of artificial intelligence (AI) in the banking sector is becoming one of the main mainstream. Almost daily there are reports about the introduction of AI in one or another bank out of the top hundred. At the same time, medium and small banks are not yet ready for large-scale use of AI. Despite active discussions about the strategic importance of AI and machine learning, there is no research on the digital transformation of these technologies into banks' business processes. Most of the work focuses on general theoretical issues and the effect of AI implementation. The assessment of the cost of creating AI often remains hidden or underestimated. The purpose of the study is to determine the possibilities of using AI technologies in banks with a limited IT budget, to decompose the AI implementation process, identify the main stages and estimate the cost of creating a model. General scientific methods are used – analysis, synthesis, abstraction. According to the results of the study, a scheme of the process of creating and implementing AI in a bank is proposed; a characteristic of each stage is given; an estimated calculation of the cost of creating a model is made; it is proved that the proposed model for building AI in a single bank is not something supercomplicated; the costs of building an AI model are quite high, but in this case banks can quite afford to join in partnership with each other or with FinTech. The results of the study are new and of practical importance for medium and small banks when making decisions on the creation and implementation of AI models.
About the Author
T. N. Zver'kova
Orenburg State University
Russian Federation
Russian Federation
Tat'yana N. Zver'kova – PhD in Economics, Associate Professor of the Department of Banking and Insurance
Orenburg
References
1. Zver'kova T. N. Risks of generative artificial intelligence in financial intermediation and approaches to their assessment, Nauchno-issledovatel'skii finansovyi institut. Finansovyi zhurnal, 2016, No 3 (31), рр. 26–44. (In Russ.)
2. Kurnosova V. V. Artificial Intelligence Technologies in Banking, Ekonomika i menedzhment innovatsionnykh tekhnologii, 2022. No. 8 (113). (In Russ.). Available et: https://ekonomika.snauka.ru/2022/08/23330 (date of access: 21.11.2024).
3. Men'shchikova V. I., Syrbu A. P. Trends in the transition of the banking business to digital technologies, Upravlencheskii uchet, 2024. No. 3, рр. 454-460. (In Russ.).
4. Yagupova E. A., Chernikova L. F., Novikova T. Yu. Current state and prospects for the use of artificial intelligence in banks, Ekonomika i predprinimatel'stvo, 2023, No. 11 (160). - рр. 1057-1060. (In Russ.) DOI 10.34925/EIP.2023.160.11.200.
5. Korneeva V. A., Ermolaeva M. D. Artificial intelligence in the banking sector, Matematicheskoe i komp'yuternoe modelirovanie v ekonomike, strakhovanii i upravlenii riskami, 2022, No. 7, рр. 205-209. (In Russ.).
6. Onokhova E. A., Pastukhova V. V., Yankina I. A. Artificial intelligence in the banking sector, Vektor ekonomiki, 2019, No. 12(42), (In Russ.). Available et: https://elibrary.ru/item.asp?id=41827803 (date of access: 21.11.2024).
7. Balayan V. S. Development of artificial intelligence in the banking sector: opportunities and challenges, Ekonomika i biznes: teoriya i praktika, 2024, No. 4-1 (110),рр. 39-44.(In Russ.). DOI 10.24412/2411-0450-2024-4-1-39-44.
8. Elfimova A. D, Sysoev F. V. Artificial intelligence in the banking sector: opportunities and risks, Fundamental'nye i prikladnye issledovaniya kooperativnogo sektora ekonomiki, 2024, No. 2, рр. 161-167. (In Russ.).
9. Bukhonova S. M., Yablonskaya A. E. Study of the digital transformation of the Russian banking sector in the context of its investment attractiveness, Voprosy innovatsionnoi ekonomiki, 2020, Vol. 10, No. 2, рр. 951-960. (In Russ.). DOI 10.18334/vinec.10.2.100875.
10. Larina O. I., Moryzhenkova N. V. Artificial intelligence in banks and the consumer's right to individual service, Tsifrovye tekhnologii i pravo [Digital Technologies and Law], Materials of the II International Scientific and Practical Conference (Kazan, September 22, 2023). In 6 volumes, Kazan: Izdatel'stvo «Poznanie», 2023, рр. 185–188. (In Russ.).
11. Do T. K. Application of artificial intelligence in customer loyalty management in banks, Informatsiya i innovatsii, 2023.,Vol. 18, No. 2, рр. 56-64. (In Russ.). DOI 10.31432/1994-2443-2023-18-2-56-64.
12. Eshtokin S. V. The use of artificial intelligence for the development of a digital system of modern models of interaction between commercial banks and their customers, Ekonomika i sotsium: sovremennye modeli razvitiya, 2020, Vol. 10, No. 4, рр. 381-390. (In Russ.). DOI 10.18334/ecsoc.10.4.111409.
13. Legchilina E. Yu., Fomenko T. A. Cross-cutting technologies in the banking sector Innovatsionnaya ekonomika i obshchestvo, 2021, No. 4 (34), рр. 42-47. (In Russ.).
14. Trusova A. Yu., Il'ina A. I. Methodology for implementing machine learning in the technologies in the banking sector Innovatsionnaya ekonomika i obshchestvo, 2021, No. 4 (34). рр. 186-201. (In Russ.). DOI 10.18287/2542-0461-2023-14-4-186-201.
15. Chuvikov D. A. The role of an expert system with a textual natural language communication interface in improving the efficiency of the banking sector, I-methods, 2019, Vol. 11, No. 1, рр. 29-38. (In Russ.).
16. Varlamov O. O. Mivar technologies as some areas of artificial intelligence, Problemy iskusstvennogo intellekta, 2015, No. 1 (1), рр. 23-374. (In Russ.).
17. Larina O. I., Shkrebtanova S. S. Artificial Intelligence in Banks: First Results, Obstacles, and Risks, Regional'naya ekonomika. Yug Rossii, 2023, Vol. 11, No. 4, рр. 88-98. (In Russ.). DOI 10.15688/re.volsu.2023.4.8.
18. Lotosh M. R., Platonov V. V., Tkalich P. P. Barriers to the implementation of artificial intelligence in Russian banks: dimensions, reasons, timing and ways to overcome them Voprosy innovatsionnoi ekonomiki, 2021, Vol. 11, No. 1, рр. 315-332. (In Russ.). DOI 10.18334/vinec.11.1.111529.
19. Morozova Yu. V., Travkina E. V. Digital technologies in Russian banks: modern development and problems, Vestnik Saratovskogo gosudarstvennogo sotsial'no-ekonomicheskogo universiteta, 2020, No. 1 (80), рр. 96-99. (In Russ.).
20. Gorodetskaya O. Yu., Gobareva Ya. L. Problems of implementing artificial intelligence technologies in banks and ways to overcome them, Innovatsii i investitsii, 2023, No. 3, рр. 211-217. (In Russ.).
21. Butenko E. D. Artificial Intelligence in Banks Today: Experience and Prospects, Daidzhest-finansy, 2020, Vol. 25, No. 2 (254), рр. 230-242. (In Russ.). DOI 10.24891/df.25.2.230.
22. Barashkova M. D. Prospects for the implementation of artificial intelligence technologies in the banking sector, Innovatsii. Nauka. Obrazovanie, 2022, No. 50, рр. 1280-1288. (In Russ.).
23. Zhuravkov M. A. Tekhnologii iskusstvennogo intellekta i intellektual'nye sistemy komp'yuternogo modelirovaniya i inzhenernykh raschetov [Artificial intelligence technologies and intelligent computer modeling and engineering calculation systems], Minsk: BGU, 2024, 177 р. (In Russ.).
24. Vasil'ev D. N., Chernov V. G. Intellektual'nye informatsionnye sistemy: osnovy teorii postroeniya [Intelligent information systems: fundamentals of the theory of construction], Vladimir: Izd-vo Vladim. gos. un-ta, 2008, 120 р. (In Russ.).
25. Fadeikina N. V., Zyryanov V. S. Information and economic security of a credit institution as factors of ensuring its sustainable development, Sibirskaya finansovaya shkola, 2024, No. (154), рр. 50–60. (In Russ.).
26. Sledneva K. E., Kuvaldina T. B. Cybersecurity in the financial sector of the economy: the need and importance, Sibirskaya finansovaya shkola, 2024, No. 3 (155), рр. 20–27. (In Russ.).
27. Zver'kova T.N. Formirovanie konkurentnykh preimushchestv regional'nykh bankov i FinTech-kompanii posredstvom strategicheskikh al'yansov, Finance and credit, 2024, T. 30, No. 7, рр. 1549–1567. (In Russ.).
28. Abdrakhmanova G. I., Gokhberg L. M., Dem'yanova A. V. i dr. Platformennaya ekonomika v Rossii: potentsial razvitiya: Analiticheskii doklad [Platform economy in Russia: Development potential: Analytical report], M.: ISIEZ VShE, 2023, 72 р. (In Russ.).
Review
For citations:
Zver'kova T.N. Integration of artificial intelligence in banking IT infrastructure: technical and financial aspects. Siberian Financial School. 2024;(4):15-25. (In Russ.) https://doi.org/10.34020/1993-4386-2024-4-15-25
Views:
466
Email this article 